Client moved out of his building he owned and rented it. He is an S-corp. How do I deal with depreciation already taken on business and move forward to making asset as rental? Do I put the cost of of building initially minus the accumulated depreciation and start with that cost on the rental?
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Both business use and rental were by the S-corp?
Both business use and rental use will depreciate over 39 years?
Both business use and rental were by the S-corp?
Both business use and rental use will depreciate over 39 years?
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